Renters Insurance, who needs that?
renters never even give a second thought to renters insurance and if they do
they naively assume the landlords insurance would cover their belongings in the
event of a loss. Unfortunately, that is not the case because the landlords
insurance only covers the structure, not the personal belongings of the tenants
or even the liability within the unit itself.
a minute to consider the value of your furniture, television, stereo, computer,
jewelry, clothes, and other items. They likely add up to more in value than
your automobile. Also, consider the event where someone is injured in your
rental unit due to your negligence and sues for damages. How do you insure that
you are covered for these unfortunate mishaps?
where renters insurance comes in.
Not only would your
personal possessions be covered in the event of a loss, whether it be from:
theft, vandalism, fire or lightning, hurricane or tornado, explosions, damage
from smoke, damage by broken glass, and water-related damages from home utilities,
but you would also be covered if someone were to sue you for negligence that
was deemed unintentional. In today’s
world, carrying coverage for a list such as these is not only smart but
renters must realize that going without renter’s insurance means they would
have to start from scratch in the event of a tragedy. In fact, it is becoming
more common for landlords to require their tenants carry renters insurance. For as little as $12 per month, it is definitely
smart to consider having renters insurance.